Hainan's Grand China Air earns CAAC approval

Grand China Air, the company established in 2004 combining HNA Group's Hainan Airlines, Xinhua Airlines, Changan Airlines and Shanxi Airlines (ATWOnline, Oct. 18, 2005), received its operating license from CAAC, the Centre for Asia Pacific Aviation said. The way now is paved for Grand China to complete a listing in Hong Kong, possibly as early as the second half of this year. CAPA Executive Chairman Peter Harbison said the listing could raise up to $500 million. Hainan, once a leisure-only ...